Wall Street claws back week’s losses thanks to strong jobs report October 5, 2024 US stocks rallied on Friday after a surprisingly strong report on the US job market raised optimism about the economy. The S&P 500 climbed 0.9 per cent and got close to its all-time high set on Monday. The Dow Jones Industrial Average rose 341 points, or 0.8 per cent, to set its own record, while [...]
Not ‘much to be optimistic about’ in London rental market October 3, 2024 Pressure on the rental market continues to build this autumn despite a cooling market earlier in spring, with more landlords selling up and more tenants looking for short-term homes, according to fresh data. More than three-quarters of agents have seen an increase in the number of tenants searching for properties, while more than half of [...]
Millions set for mortgage payment shock this year October 2, 2024 Mortgagors refinancing over the next year will continue to see a big jump in their monthly repayments.
Libor: After more than 50 years, tainted benchmark is officially no more October 1, 2024 Libor, the more than 50-year-old benchmark borrowing rate, has officially been phased out after an arduous process kickstarted by a rigging scandal in the early 2010s.
Nationwide completes Virgin Money takeover to create high street banking titan October 1, 2024 Nationwide has completed its £2.9bn takeover of Virgin Money in the UK's biggest banking merger since the financial crisis amid increasing consolidation among mid-sized lenders.
Mortgage approvals hit highest level in two years as housing market recovers September 30, 2024 According to figures from the Bank of England, 64,900 mortgages were approved last month, up from 62,500 in July.
House prices rise at fastest pace in two years September 30, 2024 House prices have risen at their fastest pace in two years as easing mortgage rates shift the UK’s property market back into gear, new figures reveal. House prices across Britain rose by 3.2 per cent year on year in September and 0.7 per cent month on month, according to Nationwide’s house price index. “Mortgage rates [...]
Chinese stocks post best week since 2008 September 29, 2024 Chinese and China-focused stocks posted their best week since 2008 last week, with the CSI 300 index shooting up 15.7 per cent after strong economic stimulus measures were put in place by the country’s government. Every index tracking Chinese stocks benefited from the measures, with Hong Kong’s Hang Seng index rising more than 13 per [...]
Rising buyer confidence boosts UK residential property market September 27, 2024 HMRC data shows that residential property transactions increased due to buyer confience and more mortgage options
Pound’s strength against the dollar risks ‘damage’ to UK’s competitiveness September 25, 2024 The pound reaching its highest level in over two years against the dollar risks damaging the international competitiveness of the UK, City analysts have warned. Sterling now sits at $1.34, its highest since February 2022 and far from its low point of $1.03 in the days after Liz Truss’ mini budget. However, while the strength [...]